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Nigeria Market Watch | May 14th 2015: Nigerian equity market sustains uptrend…

Lagos, Nigeria (Capital Markets in Africa):- Bargain hunting positioning in bellwether equities ensured a bullish close in the Nigerian equities market for the second consecutive trading session. The All Share Index rose 61bps to 34,416.29 points while market capitalization gained N71.8bn to close at N11.7bn. Month-to-date (MTD) loss of the benchmark index hence pared to 0.8%. Appreciation in FORTE OIL (+5.0%), ZENITH (+3.3%), GUARANTY (+1.0%) and DANGOTE CEMENT (+0.6%) drove positive market performance today. Market activity…

Nigeria Market Watch | May 13th 2015: Bulls Resurface after 7-Day Bear Dominance

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian Equities Market closed 27bps higher today after seven days of consecutive losses. The gain recorded brought the index level to 34,208.30 points driven majorly by investor rally in Banking counters – ZENITH (+2.5%) and GTBANK (+2.0%). Similarly, market capitalization improved N31.5bn to close at N11.6tn. Market activity was however mixed as volume declined 33.3% to settle at 350.7m units while value advanced 1.9% to peg at N3.4bn. Banking…